Dubai Investments Glass Business Shines With 45% Market Share and Doubled Production Capacities

Press release
Published October 27th, 2019 - 07:48 GMT
During the event
During the event
Highlights
Dubai Investments PJSC’s glass holding subsidiary – Glass LLC – has now raked in a 45% market share, gaining a stronger foothold and giving a major impetus to the group’s growing glass business.

With breakthrough advances and innovative concepts in glass solutions, Dubai Investments PJSC’s glass holding subsidiary – Glass LLC – has now raked in a 45% market share, gaining a stronger foothold and giving a major impetus to the group’s growing glass business. The glass business performance has registered a growth in revenue from AED 412m to AED 562m over the last 5 years, resulting in a compounded annual growth rate of approximately 35.8%.

Glass LLC provides premium quality glass solutions across a wide array of industries, from construction to automotive, at a total of 5 production facilities, incorporating glass companies namely Emirates Glass (EG), Lumi Glass (LG), Saudi American Glass (SAG) Emirates Insolaire and Emirates Float Glass (EFG). The company continues embarking on aggressive expansion of its production capacities across various subsidiaries catering to the architectural and flat glass businesses. In line with government initiatives promoting and encouraging manufacturing firms to seize available localization opportunities, the companies under Glass LLC have intensified efforts, stimulating the local production capacity and producing a total of 14,157 million m2 in the past year.

Commenting on the performance of Glass LLC, Abdulaziz Bin Yagub Al Serkal, CEO, Industrial Platform, Dubai Investments PJSC, said, “Combining extensive experience with an ambitious vision, Glass LLC has adopted sustainable growth strategies and aims to accelerate the overall demand for glass as an energy efficient alternative for construction industry. According to industry reports, the market for flat glass, extensively used in construction industry, is poised for solid growth with its sales likely to surpass the $130-billion mark by 2024.”

Glass LLC’s glass companies are focused on catering to changing regulations and stringent performance criteria’s in construction design and continue augmenting their range of products. The companies are thriving to reinforce product range by strengthening existing line up with advanced products, complementing multifunctional offerings. 

Emirates Glass has introduced new products and is aiming a market share of 35% compared to 31% last year. As the leading supplier of sputter-coated energy saving glass across the Gulf and with presence in markets across the globe, Emirates Glass currently operates a 60,000 sq m production facility in Al Quoz industrial area and a 32,825 sq m post-temperable glass coating line in Dubai Investments Park (DIP), operational since 2010.

Emirates Glass today supplies glass and glass solutions to GCC countries such as the KSA, Oman, and Kuwait as well as to Azerbaijan, Australia, Kenya, Lebanon, Turkey, India, Sri Lanka, Pakistan, Bangladesh, East and South Africa, and Canada. This highlights the focus of the company to further enhance its geographic footprint and evolve as a leading provider of quality glass products globally. The Emaar Skyview project in Dubai has been Emirates Glass’s latest phenomenal project alongside others namely Ministries Complex in Kuwait, The Glasshouse at The Quranic Park in Dubai, the Enterprise Command and Control Centre (EC3) for Dubai’s Roads and Transport Authority; and the ITCC and MAAD towers in Saudi Arabia.

Redefining aesthetics and providing a new dimension to the usage of glass is Emirates Insolaire’s coloured solar panels. Emirates Insolaire’s coloured solar glass and coloured photovoltaic modules using the Kromatix™ patented technology provides colored solar glass for both photovoltaic and thermal solar panels, providing a complete solar solution that can be adapted into any façade or roof of a residential or commercial building, and integrated into any architectural design.

Emirates Insolaire products have been installed across UAE on the kindergarten building for Dubai Municipality in Al Twar, Mirdif Hills project, Carrefour in Dubai Investments Park including projects in other emirates like Ajman and Ras Al Khaimah. Globally, the Kromatix™ technology has been implemented across projects in Switzerland, Austria, Denmark, Germany and Brazil.

Glass LLC’s EFG subsidiary’s new manufacturing facility in Abu Dhabi, UAE, spread over 320,000 Sq.mts of land is equipped with state-of-the-art machinery from Europe, US and Japan, achieving 100% capacity utilization, the highest benchmark for efficiency levels worldwide. The hi-tech manufacturing unit currently holds a production capacity of 600 tonnes per day of high quality tinted, clear and pyrolytic coated float glass per day and over 190,000 tonnes of glass products per year. EFG supplies its products to Architectural and Automotive glass sectors spanning over 65 countries including South America, Europe, Australia, Asia and Africa. EFG has ambitious plans to double its production capacity in the near future with a new production line.

Saudi American Glass (SAG) and Lumiglass have also announced over 20% increase in their capacities. SAG’s production capacity stands at 480,000 Sq.m of high-performance coated glass per annum, while Lumiglass production capacity of bullet resistant glass is at 2160 bullet proof sets per year. Over the years, SAG has completed some landmark projects like Riyadh Park Mall, Bahrain World Trade Centre, King Fahad National Library to name a few.

Glass LLC’s diversified glass companies are defining the transition to a strategic growth in the long term, based on value-added products and services.

Background Information

Dubai Investments

Dubai Investments PJSC is a leading public joint stock company listed on the Dubai Financial Market with over 16,771 shareholders and a paid-up capital of AED 4 billion. Incorporated in 1995, the Company has grown exponentially with investments in a number of businesses across a number of sectors, ranging from real estate, processing industries, mergers and acquisitions, healthcare, education to financial investments in the UAE and the Middle East. Dubai Investments continues to create positive economic impact and long-term value for its stakeholders by investing in sustainable, growth sectors in markets across the globe.

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Ahmed Malik
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